DHARMESH SHA
KEYNOTE - INBOUND18
Dharmesh Shah is Co-founder and CTO of HubSpot. Prior to founding HubSpot in 2006, Dharmesh was founder and CEO of Pyramid Digital Solutions, which was acquired by SunGard Data Systems in 2005. In 2013, Dharmesh published HubSpot’s Culture Code, which has garnered over 2.5 million views on SlideShare. Named an Inc. Founders 40 in 2016, he is an active member of the Boston-area entrepreneurial community, an angel investor in over 60 startups.
We all want to grow better, the question is how? We have already looked at the physics of growing better with flywheels, force and friction but its also useful to look at the philosophy of growing a business. Culture is critical, it defines the destiny of a company. To grow better you need a culture that puts the customer first.
HOW? WHY? WHERE?
So how do you have a customer first culture? What do they want? It goes back to not what you sell, its how you sell, How you sell is as important as what you sell. Speaking of what you sell, what does Starbucks sell?
Tiers of Economic Value
If you were selling coffee beans, you would have little price differentiation and as a result relatively little price leverage, a coffee bean is a commodity. If you took the coffee beans and put them in a bag , you have a product, more differentiation more price leverage. If you brew the coffee and put it in a cup, now you have a service with even higher differentiation and price leverage. If you kept going and opened a coffee shop with lounge seating, trendy music and charging stations, that’s an experience. The question isn't what does Starbucks sell, Its what does Starbucks offer?
selling advise
Earn my attention
Give me something i value, before you take something i value (like my time). 85% of people thought less of a company when the company reached out to them without permission. 11% of people thought no different of the company and 4% said they had a higher opinion of the company after unwanted outreach.
DON’T STEAL IT!
Solve for my success
Don't make your process my problem. If a customer wants to skip a step in the process let them. If a customer wants to skip all steps in your process and just give you the money, let them! Some customers just want a no hassle no contact sale like a meet and greet with no contact afterwards. The customer is more likely to buy and possibly buy again if their initial sale felt easy.
NOT YOUR SYSTEMS
I don’t mind paying
Make your pricing, open, clear and fair. Don’t guard your pricing information have it out in the open. 75% will look elsewhere when no pricing is displayed, 22% will contact the company. 69% will not buy if pricing is confusing.
BUT I DON’T LIKE BEING PLAYED
Own your MESS ups
We all make mistakes, say you are sorry and make it better. Don't dance around your apology with excuses just flat out come right out and say we are sorry then resolve the issue. 96% said they would stay with a company if they apologized for their mistake and made things right. (Check out the KFC sorry ad from 2018.)
DON’T BLAME ME!
Don't block the exit
You made buying so easy, Don’t making leaving so hard. 89% will buy more if you make it easy to cancel or return a purchase. Same goes for your unsubscribe, make it easy to stop contact if they no longer want to receive it.
I SAID I WANT TO LEAVE!
Growing a human
Growing a company
Both include a moment of passion followed by years of hard work.
Around year two, you decided to never do this again.
Neither one will make money the first couple years.
There will be days you will want to sell them, but shouldn't.
It’s not as easy as your friends make it look on social media.
People who shouldn't will give you advice.
People will find you insufferable because it’s all you talk about.